In over two years, Hipnogsis spent in the region of of $1.5B to acquire the catalogs of some of the biggest producers in the world. Jimmy Iovine is now the latest addition to their business moves.
As many knowledgeable music fans know, Jimmy Iovine has been an important and influential producer for 40 plus years and has impacted the music industry. Variety reports, Hipnogis Music has acquired Iovine’s catalog of global production royalties for an undisclosed amount. The acquisition includes 259 songs, along with his production in film on Eminem‘s 8 Mile and 50 Cent‘s Get Rich Or Die Trying. Despite no confirmation on the payout for Iovine’s catalog, there’s no doubt that he got a big bag for it. That’s decades worth of impactful records that Iovine has had a hand in creating.
“I’m happy that my work as a producer with so many great artists has found the right home with Merck and Hipgnosis,” he said. “I am going to use the proceeds from the deal to help Iovine Young Academy’s initiative to build a high school in South LA as part of the Iovine Young Academy at USC and continue our efforts to support education.”
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